Caspian Networks closes $120-million investment round
February 27, 2002--Caspian Networks Inc. has secured a new $120 million fourth round of financing, bringing total investment in the company to more than a quarter of a billion dollars ($262 million).
Caspian Networks Inc. has secured a new $120 million fourth round of financing, bringing total investment in the company to more than a quarter of a billion dollars ($262 million).
The new round, expected to be the company's final private round, was co-led by existing investors U.S. Venture Partners, New Enterprise Associates, and Merrill Lynch, and new investors Morgenthaler and Oak Investment Partners.
Caspian's forthcoming product, the Apeiro IP Superswitch, is designed to allow service providers to efficiently grow their networks with no forklift upgrades and no downtime, claim company representatives, who add that there are a number of surprising new capabilities they have not yet publicly disclosed.
Investors new to this round undertook extensive technical due diligence, and agree that the company's product is substantially differentiated. "We've looked under the hood carefully, and can say quite confidently that no one else is doing what Caspian Networks is doing," contends Gary Morgenthaler, general partner, Morgenthaler. "Caspian isn't simply building another big, fast router. When the company delivers as promised, it will solve some of the most pressing traditional core data network problems and expensive inefficiencies in a new way, a way that was previously not thought possible."
For more information about Caspian Networks (San Jose), visit the company's Web site at www.caspiannetworks.com.